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| SPONSOR: | Cisneros | DATE TYPED: | 02/19/01 | HB | |||
| SHORT TITLE: | Ledoux Mutual Domestic Water Association Debt | SB | 242 | ||||
| ANALYST: | Padilla | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| $ 110.0 | Non-recurring | General Fund | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Department of Finance and Administration
SUMMARY
Synopsis of Bill
Senate Bill 242 appropriates $110.0 from the general fund to DFA's Local Government Division for the purpose of repaying the debt of the Ledoux mutual domestic water consumers association to the Rural Utilities Division of the U.S. Department of Agriculture.
Significant Issues
The Ledoux mutual domestic water consumers association received a loan from the U.S. D.A.'s Rural Utilities Division to enable water improvements in the area. The loan was to be repaid over a 40-year period from user fees amounting to approximately $12 per month per user. DFA's Local Government Division believes the monthly charge for water would double or triple as a result of debt repayment and notes that the Ledoux area is low-income.
FISCAL IMPLICATIONS
The appropriation of $110.0 contained in this bill is a non-recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2002 shall revert to the general fund.
LP/ar